A pipeline explosion at a natural gas complex operated by state-owned oil company Petroleos de Venezuela (PDVSA) in the eastern state of Monagas has injured at least three people, OilPrice reported on Monday, citing a Reuters report.

The incident underscores the deteriorating state of Venezuela's energy infrastructure, which has been plagued by years of underinvestment and U.S. sanctions. 

Last month, a fire at a crude storage tank in western Venezuela left more than 20 people injured.

Despite facing sanctions, PDVSA has managed to increase its oil production and exports, with the state -owned company seeing a 21% increase in October. The company exported an average of 947,387 barrels per day (bpd) of crude and fuel, a 21% increase from the previous month and the highest monthly figure since early 2020.

Although the U.S. has eased some sanctions on Venezuela, allowing certain transactions related to the export of liquefied petroleum gas (LPG), sanctions on PDVSA remain in place.

Analysts predict that OPEC+ actions, rather than U.S. sanctions, will have a greater impact on global oil prices. A recent OPEC+ announcement suggests a more cautious approach to production cuts, which could lead to higher oil prices.